Siluanov announced the control of the Ministry of Finance over the budgets of the regions

The Russian Ministry of Finance is constantly monitoring the formation and execution of regional budgets, and the agency is concerned about changes in terms of commercial debt. This was announced by Finance Minister Anton Siluanov on Thursday, June 4, at the St. Petersburg International Economic Forum (SPIEF).

"Now I'm worried about changes in commercial debt. Loans are expensive, commercial debt affects the ability to maneuver in the expenses of subjects, so the budgets of the regions are constantly under the control of the Ministry of Finance," he said during the session "Regions in the face of global challenges: how to maintain financial stability and stimulate development."

Siluanov clarified that of the total deficit of the consolidated budgets of the regions in the amount of 1.5 trillion rubles, about 500 billion rubles accounted for the increase in commercial debt. At the same time, 35-37 regions increased their debt burden. He noted that the agency considers the use of remaining funds or budget loans as a normal source of financing the deficit, but commercial loans at current rates pose risks.

"When the rates are unambiguous, commercial debts are not terrible, but today we are paying every attention to limiting the growth of commercial debt," the Finance Minister explained.

The minister mentioned limiting the budget deficit to 10% of his own tax revenues as targets. At the same time, the share of commercial borrowing should not exceed 25% of the total public debt of the entity.

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On June 3, the head of the Federal Treasury of Russia, Roman Artyukhin, told Izvestia studio that by the end of 2025, the agency had provided about 1.5 trillion rubles to the budget by managing the balance of funds on treasury accounts.